What is a credit score? A credit score is a number that will predict your payment behavior when you use credit. Banks, car loan companies, mortgage companies and other lenders use this number when they decide if they will give you a loan. There is no one method of coming up with your credit score. […]

Debts are being sold online through small internet marketplaces, sometimes through social media. These debt portfolios are selling debts for pennies on the dollar, and some for even one-tenth of a penny per dollar. Sometimes they have unencrypted personal information, including names, social security numbers, account numbers and dates of birth. Some of these debts […]

There are two methods of paying down your debt – debt avalanche and debt snowball. With debt avalanche, you pay off the debts with the higher interest rates. You pay off your debt faster and pay less interest to banks and lenders. With the debt snowball method, you don’t look at the interest rates. You […]

Under the Fair Credit Reporting Act, negative items have to be taken off of your credit report seven (7) years from the date you were first delinquent, such as when you first got behind. The exceptions are: Chapter 7 bankruptcy filings, which can stay for 10 years; Judgments; Money owed to the government, which can […]

The Federal Trade Commission warned of fake apps that look like well-known brands. These fraudulent apps can take your bank or credit card information and can also install malware on your phone. See if there are reviews for the app before you download it. The big retailers will usually have thousands of reviews for their […]

In January of 2017, the Federal Trade Commission warned people about scammers who are getting people to pay for big ticket items like cars, motorcycles and boats with Amazon gift cards. The scammer will tell you that they need to sell the car fast because they are in the military or about to deploy. Scammers […]

Some people are afraid of getting credit cards, thinking they will get into heavy debt. But you can use your credit cards wisely and they can help you. Your payment history makes up 35% of your credit score (more than one third of your credit score). If you charge some expenses on your credit card […]

Beware of receiving phone calls where the other person says “Can you hear me?” Scammers can record you when you say “Yes.” Then the scammers will use the recorded Yes to put through charges on credit cards or do bank account withdrawals. You may even see a local area code, which makes you want to […]

In January of 2017, the Federal Trade Commission cracked down on two massive robocall operations. How does the law apply to robocalls? If the telemarketer does not have a consumer’s written permission, it is illegal to make those calls. One robocall operation was trying to sell home security systems. In the other robocall operation, they […]

Known as IDR’s, Income Driven Repayment plans are available for federal student loans. Payments on the student loans are based on income and family size, and are not based on the amount of the loan. If you are unemployed or have low wages, your payments could be as low as zero dollars per month. Some […]